Bankruptcy Looming

nomis21

Hi,
I dont want to bore users of this forum with my story but i have made contact with the citizens advice and i have had a week of thaught before i go back and decide how to tackle my situation, options are iva or bankrupcty.
I have come to the conclusion Bankruptcy is the best option for my situation and the best way to make a new start, although iam not a worrier and feel the futures looks brighter!
Although i do have one worry this may seem a bit tedious considering my debt lifestyle, the problem is the publicity that comes with bankruptcy.
The name in the paper, getting intouch wih employers, my landlord.
Does all this really need to happen ?
Is it possible to deal with a court out of the area so name lisings in the local rag doesnt happen?

fermi

You have two choice regarding the court. Either your local one or the High Court in London.

In either case it is not the court that does the advertising but the Official Receiver. This will always be in a local paper covering your area, since the purpose is to notify potential creditors of your bankruptcy. There is no choice in this, and no way of avoiding it.
Notification will also be published in the London Gazette.

Employers are virtually never contacted (unless BR disqualifies you from your profession), and while landlords technically can be contacted this rarely happens unless there is a specific issue to address.

I can understand how you feel, but it is normally the case that release from overwhelming debts is worth chancing a bit of embarrassment or discomfort for.

owetoomuch

I went BR on 25th May and have been checking my local paper every week since then, my details have not appeared but each week details from a court in Hertford are in, I live in East London. The BR details are usually burried in the public notices page as a small add and most people don't look at these, I know I didn't until I went BR and am checking for when my entry is in. I have told no one other than close family that I have gone BR so I am dreading notice appearing in the paper. My employer does not know I went BR as my union said they didn't need to know.

NorthernOne

You will find the advert in the local paper/s is normally only very small and if like me you live in/near a major city then you will not notice it within all the other peoples details!

I never told my employer or my landlord, the OR never even checked with them!

Posthinking

fermi wrote: »

You have two choice regarding the court. Either your local one or the High Court in London.

In either case it is not the court that does the advertising but the Official Receiver. This will always be in a local paper covering your area, since the purpose is to notify potential creditors of your bankruptcy. There is no choice in this, and no way of avoiding it.
Notification will also be published in the London Gazette.

I was lucky. I petitioned at a court not strictly within my area. The notice was published in the newspaper local to that court, not my local paper.

sarah84

I never saw mine, neither did my family who don't know about my bankruptcy. It must be tiny and buried underneath lots of other stuff people don't read!

fermi

Posthinking wrote: »

I was lucky. I petitioned at a court not strictly within my area. The notice was published in the newspaper local to that court, not my local paper.

You were lucky.

I would have preferred to petition elsewhere (not because of where it would be published), but was told by the Insolvency Service and the Court that it was tough and that the local one was the only choice.

Demelza

Hi

I'm not sure whether I'm posting this in the right thread. My son has a major debt problem and so, apparently, does my neice who I was speaking to earlier. My question is this: I believe to even consider bankruptcy you need to stump uop something like £500. What do people do that simply can't raise this amount of money?

I would really appreciate anybody's advice about this as I now have two family members who are desperate.

Thank you.

fermi

Demelza wrote: »

Hi

I'm not sure whether I'm posting this in the right thread. My son has a major debt problem and so, apparently, does my neice who I was speaking to earlier. My question is this: I believe to even consider bankruptcy you need to stump uop something like £500. What do people do that simply can't raise this amount of money?

I would really appreciate anybody's advice about this as I now have two family members who are desperate.

Thank you.

Hi Demelza,

Bankruptcy fees are £335 for the Official Reciever + £150 court fee. The court fee is often waived if you are on some form of benefits.

If you are on a low income then there are some charitable trusts (mostly run by utility companies for some reason) that will sometimes grant you the remaining fees. I will look for some links.

You would be better posting your own thread on the forum.

Use the button in the top left on the main BR forum.

That way more people will see your questions.